Truist Boosts Pfizer (NYSE:PFE) Price Target to $58.00

Pfizer (NYSE:PFE) had its price target increased by Truist from $43.00 to $58.00 in a report released on Wednesday, The Fly reports. They currently have a buy rating on the biopharmaceutical company’s stock.

Other analysts have also issued reports about the company. Cantor Fitzgerald reaffirmed a buy rating and set a $60.00 target price on shares of Pfizer in a research report on Friday, November 5th. Barclays set a $44.00 target price on Pfizer in a research report on Wednesday, November 17th. The Goldman Sachs Group set a $48.00 target price on Pfizer in a research report on Thursday, July 29th. JPMorgan Chase & Co. set a $42.00 target price on Pfizer in a research report on Friday, November 5th. Finally, BMO Capital Markets started coverage on Pfizer in a research report on Thursday, November 18th. They set an outperform rating and a $60.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $49.00.

Shares of PFE opened at $50.89 on Wednesday. The stock’s 50-day moving average is $45.01 and its two-hundred day moving average is $43.27. The stock has a market cap of $285.64 billion, a PE ratio of 15.15, a P/E/G ratio of 1.16 and a beta of 0.72. Pfizer has a 12 month low of $33.36 and a 12 month high of $52.83. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.37 and a quick ratio of 1.12.

Pfizer (NYSE:PFE) last issued its quarterly earnings data on Tuesday, November 2nd. The biopharmaceutical company reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.26. The company had revenue of $24.09 billion for the quarter, compared to analysts’ expectations of $22.82 billion. Pfizer had a return on equity of 31.66% and a net margin of 27.66%. The firm’s quarterly revenue was up 134.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, research analysts anticipate that Pfizer will post 4.2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 6th. Investors of record on Friday, November 5th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, November 4th. Pfizer’s dividend payout ratio is currently 46.43%.

In other news, insider John D. Young sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, November 11th. The stock was sold at an average price of $50.06, for a total transaction of $7,509,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.05% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Pfizer by 1.2% during the second quarter. Vanguard Group Inc. now owns 456,203,630 shares of the biopharmaceutical company’s stock worth $17,864,934,000 after buying an additional 5,289,511 shares during the period. BlackRock Inc. boosted its position in shares of Pfizer by 0.9% during the third quarter. BlackRock Inc. now owns 410,828,305 shares of the biopharmaceutical company’s stock worth $17,669,727,000 after buying an additional 3,780,033 shares during the period. State Street Corp boosted its position in shares of Pfizer by 1.3% during the second quarter. State Street Corp now owns 278,568,311 shares of the biopharmaceutical company’s stock worth $10,908,735,000 after buying an additional 3,681,456 shares during the period. Capital World Investors boosted its position in shares of Pfizer by 0.5% during the third quarter. Capital World Investors now owns 241,360,858 shares of the biopharmaceutical company’s stock worth $10,381,066,000 after buying an additional 1,171,443 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Pfizer by 3.3% during the third quarter. Geode Capital Management LLC now owns 99,593,093 shares of the biopharmaceutical company’s stock worth $4,272,514,000 after buying an additional 3,211,904 shares during the period. 64.99% of the stock is owned by institutional investors.

About Pfizer

Pfizer Inc is a research-based global biopharmaceutical company. It engages in the discovery, development, manufacture, marketing, sales and distribution of biopharmaceutical products worldwide. The firm work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases.

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